1. “No State shall, without the Consent of Congress, ... enter into any Agreement or Compact with another State.” U.S. Const., art. I, sec. 10, d. 3. Neither the Constitution nor case law interpreting this provision distinguish between “agreements” and “compacts”; they are treated as synonymous.
2. 34 YALE L.J. 685 (1924).
3. Landis served from 1937 to 1939, following SEC's first chairman, Joseph P. Kennedy, and preceding William O. Douglas, later to join Frankfurter on the Supreme Court.
4. From 1783 until 1920, there were 36 compacts formed. From 1920 until 1983, 140 compacts were formed, 100 of them since World War II. THE COUNCIL OF STATE GOVERNMENTS, INTERSTATE COMPACTS AND AGENCIES iv (1983).
5. See Pub. L. No. 96-501, Sec. 4 (1980).